The Commerce Department says new-home sales dropped more than 13 percent in July. Analysts blame higher mortgage rates, which have gone up more than a full percentage point. Plus, Microsoft CEO Steve Ballmer says he plans to retire within a year. Alison Harmelin reports.

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New-home sales plummet

1:15 min

The Commerce Department says new-home sales dropped more than 13 percent in July. Analysts blame higher mortgage rates, which have gone up more than a full percentage point. Plus, Microsoft CEO Steve Ballmer says he plans to retire within a year. Alison Harmelin reports.